Sunday, April 21, 2024

Eight football clubs fined for breaching financial rules


Share post:

Paris St-Germain (PSG) s one of eight clubs to be fined by European football’s governing body, UEFA, for breaching Financial Fair Play rules.

PSG have been ordered to pay an unconditional 10m euros (£8.6m) for not complying with “break-even” rules and could pay as much as 65m euros (£56.3m) depending on future compliance.

The break-even requirement is where clubs are ordered to not spend more than the income that they generate, and that they must balance their books over the course of three years.

UEFA told 19 other clubs they will be “monitored closely” in coming years.

They include Chelsea, Leicester, Manchester City, West Ham and Rangers.

The sanctions applied to clubs who played in UEFA’s 2021-22 club competitions and came after analysis of the financial years 2018, 2019, 2020, 2021 and 2022.

The other seven clubs required to make financial contributions are AC Milan, Inter Milan, Roma, Juventus, Besiktas, Marseille and Monaco.

Combined with PSG, they will pay at least 26m euros (£22.5m), but up to a total of 172m euros (£149m).

These fines will be paid directly or be withheld from any revenues the clubs earn from UEFA club competitions.

The clubs in question will also have to pay more unless they comply with targets stated in settlement agreements.

The aim of the agreement framework is to accompany clubs through the transitional period between FFP regulations from 2018 and newly-approved regulations that will be implemented in a staged approach from 2023.

Financial years 2020 and 2021 were subject to Covid emergency measures aimed at neutralising the adverse impact of the pandemic.

Those years were assessed as one single period, with clubs allowed specific Covid adjustments and to average the combined deficit of 2020 and 2021.

While UEFA found that 19 clubs “were able to technically fulfil the break-even requirement thanks to the application” of those measures, it reminded those clubs that those deductions and consideration of historical financial results will not be possible from 2023.

Those clubs were also asked for additional financial information and will be monitored closely. (BBC)


Please enter your comment!
Please enter your name here

Related articles

Businesses reporting heavy losses with reusable bags, utensils

Some plastic retailers and manufacturers are facing thousands of dollars in losses. They are reporting the issue is with...

LVS teachers ‘willing’ to return tomorrow

In spite of reservations about what is making some of them ill, teachers are still willing to return...

Fogging Schedule April 22 to 26

The Vector Control Unit will focus on the parish of Christ Church when it carries out its fogging...

Update: Flash Flood Warning in effect for central districts

The Barbados Meteorological Services (BMS) has expanded its Flash Flood Warning to include the central part of the...